Zhi Tong Cai Jing·2026-01-12 03:44Core Viewpoint - China Shipbuilding Defense (中船防务) is expected to see significant growth in net profit for the year 2025, with projections indicating an increase of 149.61% to 196.88% compared to the previous year [1] Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company ranging from RMB 9.4 billion to 11.2 billion for 2025 [1] - The expected net profit, excluding non-recurring gains and losses, is projected to be between RMB 8.5 billion and 10.2 billion, reflecting a year-on-year increase of 153.27% to 203.93% [1] Revenue Drivers - The growth in operating performance is attributed to increased revenue from shipbuilding products and improved production efficiency [1] - There has been a notable improvement in product gross margins year-on-year [1] - Significant enhancement in the operating performance of joint ventures has led to increased dividend income from associated companies, resulting in a substantial rise in investment income year-on-year [1]